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eMoney News

Gemalto boosted by contactless smart card revenue
14 Mar 2011

Digital security specialist Gemalto has posted strong financial results for the last financial year, with its contactless smart card technologies helping to drive growth.

The company, which is a technology partner of sQuid, saw revenues increase by 19 per cent to 1.9 billion euros.

The growth was attributed to successful software and services products, including mobile contactless services, which helped make up for a decline in revenues from traditional SIM cards.

Revenue generated by Gemalto's secure transactions department increased by seven per cent on the previous year, to reach 462 million euros.

"This growth was once again driven by global worldwide migration to EMV (Europay, Mastercard and VISA), and was boosted by the rapid adoption by certain countries of upgrades to dual-interface contactless payment cards," the company said in its statement.

Later this month, Gemalto will be displaying its digital security products at the CTIA Wireless 2011 show, highlighting the potential of NFC in the mobile device industry for transit, retail, payments and marketing.